Vivendi increases stake in Ubisoft once again, just days after E3 2016

By Sherif Saed, Tuesday, 21 June 2016 09:50 GMT

Now that Vivendi has successfully bought Gameloft, the mega conglomerate is now ready to make a move on the other big French publisher.

ubisoft

Vivendi increases stake in Ubisoft once again, just days after E3 2016

Just days before E3 last week, Vivendi – the media conglomerate that houses publishers across film, music and games production, successfully acquired a controlling share in mobile publisher Gameloft via a hostile takeover.

Gameloft is a sister publisher to Ubisoft, and used to be run by Ubisoft CEO’s brother Michel Guillemot, before he stepped down following the move.

It seems Vivendi has Ubisoft next in its sights. This comes as no surprise, seeing as how the mega corporation continues to buy more and more of Ubisoft’s shares, despite the latter repeatedly declaring disinterest in the move.

As it stands, Vivendi now owns 20.1 percent of Ubisoft’s stock, after making a another purchase just after E3. Vivendo also intends to buy even more, and has asked for a seat on Ubisoft’s board, but said it has no intention of taking over Ubisoft.

In a statement released on Friday, Vivendi said it’s looking to build a “fruitful cooperation” with the Assassin’s Creed publisher.

Upon reaching a 30 percent share of a company’s stock, French law dictates the buyer must tender a public offer, which is off the table for at least the next six months.

At the end of Ubisoft’s E3 2016 conference, CEO Yves Guillemot took the stage to say a few words of thanks to fans who helped get the company where it is, which although didn’t specifically mention this ongoing conflict, one couldn’t help but read them in the context of Vivendi’s unwarranted takeover efforts.

Via Bloomberg.

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